Srilanka based telemedicine startup oDoc has raised $1 million in pre-series A funding led by existing investors Techstars. The round also saw participation from Silicon Valley VC firms Hustle Fund and Unpopular Ventures. Other investors included Cherif Habib, Co-founder, Dialogue; Vir Kashyap, Co-founder, Babajob; and LPs Bill and Leonard Lynch. A statement said that the funding will be utilized by oDoc towards expansion of operations and creation of a seamless customer experience across the healthcare and insurance verticals.

oDoc is a B2B telemedicine firm that covers over 200,000 lives in Sri-Lanka, India and Maldives. Founded in 2017, the startup connects patients with doctors for video consultations and fulfils home diagnostics and medicine delivery. The company currently has a network of over1,000 partner doctors including general physicians, pediatricians, dermatologists, mental health professionals and Obstetrician & Gynaecologists.

Heshan Fernando, CEO, oDoc, said, "At oDoc, we strive to make high-quality healthcare universally accessible, affordable and personal. We are excited to transition to the next phase of growth, moving from a startup to a scale-up, and are thrilled to have some of Silicon Valley's best venture builders backing us.”

According to the company, it has witnessed five times growth in revenues in 2020, while maintaining healthy unit economics owing to a push provided by the global pandemic which was a watershed for the global telemedicine industry.

Speaking about the investment Shiyan Koh, Managing Partner, Hustle Fund, said, “We are pleased to back Heshan and the oDoc team as they have demonstrated grit and capital efficiency," said. "oDoc is taking on one of the most important problems we face - timely and affordable access to healthcare. Consumers' willingness to use digital health solutions has only accelerated during the COVID-19 pandemic and we see multiple paths to growth here.”